Ellomay Capital reports EUR 8.2m in revenue for FH 2018

Israel-based Ellomay Capital Ltd. (NYSE American: ELLO) (TASE: ELLO) has reported EUR 8.2 million in revenues for the first half of 2018, compared to EUR 6.8 million for the six months ended June 30, 2017, the company said.

Operating expenses were approximately EUR 2.6 million for the six months ended June 30, 2018, compared to approximately EUR 0.9 million for the six months ended June 30, 2017. The increase in operating expenses is mainly attributable to additional operating expenses resulting from the commencement of operations at the Company´s two waste-to-energy projects in the Netherlands and from the Talmei Yosef project.

Project development costs were approximately EUR 1.8 million for the six months ended June 30, 2018, compared to approximately EUR 1.4 million for the six months ended June 30, 2017.

General and administrative expenses were approximately EUR 2 million for the six months ended June 30, 2018, compared to approximately EUR 1.2 million for the six months ended June 30, 2017.

Financing expenses, net was approximately EUR 0.9 million for the six months ended June 30, 2018, compared to approximately EUR 5.8 million for the six months ended June 30, 2017.

Net loss was approximately EUR 1.1 million for the six months ended June 30, 2018, compared to approximately EUR 5.4 million for the six months ended June 30, 2017.

In May 2018, the Company entered into an EUR 35.9 million project finance Facility Agreement. The Facility Agreement was executed among several of the Company´s Italian subsidiaries and Mediocredito Italiano S.p.A and Intesa Sanpaolo S.p.A.

Ellomay Capital Ltd. is a renewable energy and power generator and developer of renewable energy and power projects in Europe and Israel.